Tag Archives: IRS

IRS Data Tables – Who Paid What When

The IRS has placed a huge amount of useful data online.

For example, the IRS really does track and publish the income data for the 400 wealthiest Americans. Using the IRS data various researchers have found interesting factoids such as the majority of these 400 paid lower tax rates than the average American making $29,000 when all taxes are factored in.

Statistics are interesting beasts so please consider these IRS numbers in context.

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Taxes — The Bigger Picture

The following was provided to me by Bill Case, a fellow traveller that insists upon researching and digging deeper into the data … the rest of the story that is seldom ever discussed in the public.

Source for the info below:
http://www.irs.gov/taxstat​s/indtaxstats/article/0,,i​d=133521,00.html

If you are calling Federal Income Tax “taxes” then they only make up 27.6% of government revenue. The other 72% is already spread fairly evenly amongst everybody. As for the Federal Income Tax portion of the tax bill:

Total Tax Revenue for all levels of government in 2009: $4,353 Billion

Federal Income tax:

At or Below the Poverty Line (Individual Annual Income less than $16,000)
Number of Returns 11,592,357 10.4%
Taxable Income $37 Billion 0.7%
Tax Generated $3.6 Billion 0.34%

Middle Income (Individual Annual Income more than $16,000 but less than $200,000)
Number of Returns 92,026,036 85.2%
Taxable Income $3,555 Billion 62.9%
Tax Generated $546 Billion 50.5%

Wealthy (Individual Annual Income more than $200,000)
Number of Returns 4,359,936 4%
Taxable Income $2,061 Billion 36.5%
Tax Generated $531 Billion 49.1%

Effective Tax Rate:
Poverty Line: 10%
Middle income: 15%
Wealthy: 26%

Total Federal Income Tax Generated: $1,081 Billion (2010)

Tax Generated by Wealthiest: $531 Billion or 49.1% of Total Federal Taxes and 24% to 27% of total tax revenue.

Total Number of returns for 2010: 108 million.

$4,353 Billion Total Taxes
$1,081 Billion Federal Income Taxes

$3,272 Billion generated by Other taxes (non-Fed Income Tax)
$30,296 of non-Fed Income Tax paid per return.

Effective Taxes per return
Poverty Line: ($30,296+/-)+ 310 = $30,606
Middle income: ($30,296+/-) + 5,934 = $36,230
Wealthy: ($30,296+/-)13,000 + 12,349 = $42,645

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Notes by Bill4DogCatcher:

A tax return filing is only required for those that exceed:

Self-employed, any age: $400
Children and Teens classified as a dependent: $5,700
Single, under 65: $9,350
Single, over 65: $10,750
Married, filing jointly, both spouses under 65: $18,700
Married, filing jointly, one spouse over 65: $19,850
Married, filing jointly, both spouses over 65: $20,900
Married, filing separately, any age: $3,650

The current wrapped-around-the-axle argument by both sides:

Left: The rich aren’t paying their fair share. Doesn’t exactly seem to be the case, or anywhere close to it.

Right: The few are carrying the many and all taxes are robbery of the efforts that a person puts into their work. Hardly.

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